UK car exports flourishing – but post Brexit Britain slumping 0

uk-car-exports-flourishing-but-post-brexit-britain-slumpingDoubts about the economy started to affect the car industry last month. A 10.6% drop in the amount of UK-built vehicles sold within the country, contrasted to this time last year.

Figures released by the Society of Motor Manufacturers and Traders (SMMT) detailed the production to sales figures, but also showed that this dip was offset by the amount of cars being exported worldwide.

In total, exports rose by 5%, September alone saw 123,119 vehicles exported. This bulked the up-to-date annual total to more than one million (up 12.2% compared to 2015).

The UK Government finds itself under increasing pressure to ensure a fair trade deal is negotiated between the UK and Europe, upon the triggering of Article 50 by Prime Minister Theresa May.

“British-built cars are in demand across the world as demonstrated by the double digit growth in exports this year, resulting in more than a million cars produced for international markets,” explains SMMT chief executive Mike Hawes.

“The vast majority of cars manufactured here in the UK are destined for abroad and future growth will depend on securing our international competitiveness and the barrier-free access to major global markets that has enabled UK Automotive to thrive.”

The SMMT figures also showed that the amount of private buyers registering new vehicles fell by 1.7% during September – the plate change month.

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